Home Ownership Expense Calculator | |||||
| Mortgage Information and Assumptions | |||||
| Purchase Price (Value) | $ 250,000 | $ 250,000 | |||
| Down Payment percentage | 20.00% | 100.00% | |||
| Down Payment | $ 50,000 | $ 250,000 | |||
| Length of Mortgage (years) | 25 | 25 | |||
| Yearly Mortgage Interest Rate | 2.20% | 3.10% | |||
| Yearly Property Tax | 1.20% | 1.20% | |||
| Yearly Homeowners Insurance | 0.12% | 0.12% | |||
| Monthly Private Mortgage Insurance (PMI) | $ - | $ - | |||
| ! | Yearly Maintenance | $ 700 | $ 700 | ||
| ! | Yearly Improvements | $ 1,300 | $ 1,300 | ||
| Condo Fee | $ 3,000.0 | $ 3,000.0 | |||
| Monthly Housing Payment | |||||
| Loan Amount | $ 200,000.00 | $ - | |||
| Mortgage Payment (PI) | $867.32 | $0.00 | |||
| * | Property Tax (T) | $250.00 | $250.00 | ||
| * | Insurance (I) | $25.00 | $25.00 | ||
| * | Condo Fee | $250.00 | $250.00 | ||
| Monthly Housing Payment (PITI) | $1,392.32 | $525.00 | |||
|
| 5% downpay | 100%downpay | ||
| lawyer fee | 1300 | 1300 | |
| land transfer fee | 2250 | 2250 | |
| monthly fee | $83,539.03 | $31,500.00 | |
| commison | $ 10,400.00 | $ 10,400.00 | |
| balance | 168277 | 0 | |
| sell 260000, leftover | 91723 | 260000 | |
| leftover-downpay-montly fee-lawyer fee-landtransferfee | $ (55,766.03) | $ (35,450.00) | |
| equals monthly paid | $ (929.43) | $ (590.83) | |
| principle | 50000 | 250000 | |
| interest after tax | 1200 | 6000 | |
| equals monthly paid after interest lost | $ (949.43) | $ (690.83) |
| lawyer fee | 1250 | |
| land transfer fee | 2400 | |
| monthly fee | $77,845.82 | |
| commison | $ 10,400.00 | |
| balance | 174457.59 | |
| sell 260000, leftover | 85542.41 | |
| leftover-downpay-montly fee-lawyer fee-landtransferfee | $ (58,353.41) | |
| equals monthly paid | $ (972.56) |
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